Clipper Fund
Portfolio holdings sorted alphabetically as of April 30, 2012
| Security Description | Symbol |
|---|---|
| Alleghany Corp. | Y |
| American Express Co. | AXP |
| Ameriprise Financial, Inc. | AMP |
| Bank of New York Mellon Corp. | BK |
| Bed Bath & Beyond, Inc. | BBBY |
| Berkshire Hathaway, Inc. Class A | BRK A |
| Brazil Pharma SA | BPHA3 BZ |
| Canadian Natural Resources Ltd. | CNQ |
| Cielo SA | CIEL3 BZ |
| Costco Wholesale Corp. | COST |
| CVS Caremark Corporation | CVS |
| Diageo PLC | DGE LN |
| Everest Re Group, Ltd. | RE |
| Goldman Sachs Group, Inc. | GS |
| Google Inc., Class A | GOOG |
| Security Description | Symbol |
|---|---|
| Harley-Davidson, Inc. | HOG |
| Hewlett Packard Co. | HPQ |
| Iron Mountain, Inc. | IRM |
| Julius Baer Group Ltd. | BAER VX |
| Loews Corp. | L |
| Merck & Co., Inc. | MRK |
| Microsoft Corp. | MSFT |
| Oaktree Capital Group | OAK |
| RHJ International | RHJI BB |
| Roche Holding AG | ROG VX |
| SKBHC Holdings LLC | ----- |
| Texas Instruments, Inc. | TXN |
| Wells Fargo & Co. | WFC |
* Portfolio holdings are subject to change. The holdings above may not represent the entire portfolio. For a complete listing of portfolio holdings review the most recent Annual Report, Semi-Annual report or Form NQ.